Wedge Capital Management L L P NC Reduces Position in DTE Energy Company $DTE

Wedge Capital Management L L P NC trimmed its stake in DTE Energy Company (NYSE:DTE) by 16.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 98,812 shares of the utilities provider’s stock after selling 19,525 shares during the quarter. Wedge Capital Management L L P NC’s holdings in DTE Energy were worth $15,056,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its stake in shares of DTE Energy by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 23,807 shares of the utilities provider’s stock valued at $3,481,000 after acquiring an additional 71 shares during the last quarter. Whittier Trust Co. raised its stake in DTE Energy by 3.5% in the 1st quarter. Whittier Trust Co. now owns 2,220 shares of the utilities provider’s stock valued at $328,000 after purchasing an additional 75 shares during the last quarter. Segment Wealth Management LLC lifted its holdings in DTE Energy by 4.6% in the 4th quarter. Segment Wealth Management LLC now owns 1,744 shares of the utilities provider’s stock valued at $225,000 after purchasing an additional 76 shares in the last quarter. Prosperity Consulting Group LLC lifted its holdings in DTE Energy by 1.2% in the 1st quarter. Prosperity Consulting Group LLC now owns 6,342 shares of the utilities provider’s stock valued at $927,000 after purchasing an additional 76 shares in the last quarter. Finally, HM Payson & Co. boosted its stake in shares of DTE Energy by 23.6% during the 4th quarter. HM Payson & Co. now owns 419 shares of the utilities provider’s stock worth $54,000 after purchasing an additional 80 shares during the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on DTE shares. TD Cowen initiated coverage on shares of DTE Energy in a report on Tuesday, July 7th. They set a “hold” rating and a $166.00 price target for the company. Wall Street Zen raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Jefferies Financial Group set a $172.00 target price on shares of DTE Energy in a research report on Thursday, July 9th. Truist Financial lowered their target price on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Finally, Bank of America reiterated a “buy” rating on shares of DTE Energy in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $158.62.

DTE Energy Stock Up 0.5%

DTE opened at $138.37 on Thursday. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. The stock has a market capitalization of $28.79 billion, a price-to-earnings ratio of 21.89, a price-to-earnings-growth ratio of 3.01 and a beta of 0.38. The business has a 50-day moving average of $146.99 and a two-hundred day moving average of $145.13. DTE Energy Company has a 12 month low of $126.23 and a 12 month high of $155.74.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. The company had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same quarter in the prior year, the company posted $1.36 EPS. On average, research analysts expect that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be given a dividend of $1.165 per share. The ex-dividend date of this dividend is Monday, September 21st. This represents a $4.66 annualized dividend and a yield of 3.4%. DTE Energy’s dividend payout ratio is 73.73%.

DTE Energy Company Profile

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.